Yellow Pages publisher to restructure global operation as it looks to avoid potential breach of banking covenants.

This article titled “Yell to focus on ‘local search’ to defend against rivals Google and Groupon” was written by Mark Sweney, for guardian.co.uk on Wednesday 16th February 2011 07.17 UTC

Yell is to restructure its global operation and focus on owning “local search” to try to defend its business from rivals including Google and Groupon, as the embattled directories company looks to avoid a potential breach of banking covenants.

The Yellow Pages publisher on Tuesday saw its shares slump by more than 10% to less than 9p, the lowest the company has hit since listing on the stock exchange in July 2003, after it reported a continued slide in its business performance.

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